News
| May 20, 2008

A2iA Corp., a leading provider of tools for document analysis and handwritten data extraction, announced recently that A2iA CheckReader, a comprehensive check-image processing toolkit, has been integrated into Olim Check Scanning Solution (Olim CSS), a customizable check-processing system designed for use at the bank's front counter. This integration dramatically decreases the manual workload of bank tellers while ensuring more customer interaction and a better experience for bank customers.

According to the branch manager at Marine Credit Union in La Crosse, Wisconsin, the first installation, integration of A2iA CheckReader into Olim CSS has fully automated 95% of all transactions. Since each transaction is balanced at the point-of-presentment, the risk of leaving a batch of checks with an error is nearly eliminated. This new process has delivered a time savings of 125% as compared to when transactions were encoded manually, as well as an ROI for the entire system achieved in less than 160 days.

During a transaction, the teller feeds multiple checks and the deposit ticket into the scanner. A2iA CheckReader then locates and recognizes the CAR and LAR amounts, payer name and address, date and payee name. The customer's account number is captured from the deposit ticket and this scanned information is transformed into usable data, which Olim CSS validates. The transaction is balanced in real-time, and the entire system runs as a service to build the X9.37 file at a scheduled time by looking for all checks validated by the branch supervisor.

Olim CSS is easy-to-learn, with an intuitive, color graphic interface that identifies any checks that may need to be reviewed manually, so that potential errors and check-validity problems are caught before a transaction is completed. Tellers process checks with the customer at the counter and the customer receives a receipt almost immediately. Overtime hours for research and adjustment are practically non-existent with this new system.

"We selected A2iA CheckReader because of its ability to provide tellers more face-to-face time with customers, while providing a 'second set of eyes' to catch potential errors or check validity problems," said Tom Boser, president Olim, LLC. "A2iA CheckReader's powerful image quality and image usability tools immediately alert the teller of checks that are poorly scanned, have incomplete information, or potentially non-negotiable items, ensuring timely processing and the prevention of costly corrections."

Since Olim CSS with A2iA CheckReader allows for the reconciliation of a teller's transactions as they are being scanned, and the reconciliation of a bank's totals at the end of the day, a branch manager is able to validate the day's work and ensure that the checks balance correctly without having to search through the day's transactions. X9.37 files are then posted on time with later cut-off times. The ability presented by this new integration, which allows for real-time reconciliation of transactions, makes this process faster and easier for the financial institution with near perfect accuracy.

All of the historical transactional information is fully accessible in real-time searches, based on a bank's requirements, within the Olim Check Scanning Solution. Searches can be performed based on any other field captured by Olim CSS and A2iA CheckReader, whether written in machine print, handprint or cursive handwriting. Inquiries from customers or regulators can also be responded to faster.

"With uncertain economic times upon us, banks are focusing on the efficient use of their resources and their cost of doing business," said Courtney Rand, A2iA's marketing and sales director for North America. "Automation and efficiency at the front line is where it all begins."

AvailabilityOlim Check Scanning Solution with A2iA CheckReader is available to banks, credit unions and insurance companies for integration into their front- and back-end operations. For more information, visit www.olimllc.com.

About A2iAA2iA, Artificial Intelligence and Image Analysis, is a software company that operates one of the world's largest research centers focusing on ways to extract information from everyday paper documents that contain handwritten information. A2iA's Document Classification, OCR, ICR and IWR technologies have been reducing data-entry costs and improving business process automation for over 17 years. A2iA recognition engines can be used to enhance the forms processing, transaction processing, business process management, record-management,
e-discovery, content management, document management, and knowledge management systems from leading vendors. For more information, please visit
www.a2ia.com.

About Olim, L.L.C. Olim, L.L.C. was founded with the future in mind. By combining today's best business practices with today's best technology, Olim continues to produce technology solutions that make their customers more successful. The nature of technology consistently drives itself into obsolescence. Olim works hard to integrate their clients' existing technology with the latest in software applications, always keeping you ahead of the curve. For more information, please visit
www.olimllc.com.